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archTIS substantial shareholder boosts interest to 12.26%

Merchant Funds Management now holds more than 15.09 million shares in the online security provider.

Kojensi Gov software
A key company product is the Kojensi Gov information security platform

archTIS Ltd (ASX:AR9) substantial shareholder Merchant Funds Management has shown its support for the company’s online security strategy by increasing its stake to 12.26%.

Merchant Opportunities Fund has made a series of purchases between September 14, 2018, and May 30, 2019, to boost Merchant’s holding from 11.13%.

The WA-based investor now holds more than 15.09 million shares.

READ: archTIS substantial shareholder increases stake to 8.95%

This follows another substantial shareholder, SG Hiscock & Company (SGH), recently lifting its interest to 8.95% from 7.37%.

In April, SGH acquired a further 772,104 archTIS shares for a total of more than 11.047 million.

READ: archTIS secures endorsed cloud product status from Federal Digital Transformation Agency

Last week archTIS Ltd’s information security platform Kojensi Gov was added to the Digital Transformation Agency’s (DTA) Cloud Services Panel (CSP) as an endorsed cloud product.

The CSP is the largest cloud procurement panel for the Australian government and facilitates simplified procurement for new and emerging technologies.

Kojensi Gov passed a detailed DTA assessment to be included on this panel.

This assessment looks at the proposed service’s compliance, fit-for-purpose for government, price and security.

The CSP simplifies and accelerates the procurement process for agencies and institutions by standardising the terms and conditions and providing a pre-determined value-for-money assessment, allowing agencies to avoid traditional lengthy and complex procurement processes.

Kojensi Gov’s addition to this panel provides further validation of the product, launched commercially in April this year, and positions the product for uptake throughout all areas of government.

Quick facts: archTIS Ltd

Price: 0.39 AUD

Market: ASX
Market Cap: $66.9 m

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